The Silicon Valley Bank collapse is considered such a disaster that the Biden administration, which usually tries to ignore or cover up crises (such as the East Palestine chemical spill and the southern border crisis), almost rushed to figure out a bailout plan for SVB depositors. SVB was certainly a woke institution—and not least because of its multimillion-dollar donation to Black Lives Matter.
The Claremont Institute has a “BLM Funding Database” listing various corporate donors to the woke, race-obsessed Black Lives Matter and its related entities. The “Total [Donated] to BLM Movement & Related Causes” that Claremont tallied is $82,889,408,433. And $73,450,000.00 of that comes from the “Silicon Valley Bank (SVB).” Claremont includes multiple links from SVB.com as sources.
Black Lives Matter is a radical leftist organization that played a key role in the destructive and domestic terrorism-filled 2020 riots. Its founders are openly avowed Marxists. The BLM website specifically mentions “Black queer and trans folks” and “undocumented folks.” BLM was founded in 2013 in response to the acquittal of neighborhood watch volunteer George Zimmerman, the shooter in the 2012 killing of Trayvon Martin. Even though Zimmerman was found “not guilty” of murder, BLM continues to frame the shooting as an egregious race-based murder. BLM’s website has a woke word salad to describe its mission:
Black Lives Matter Global Network Foundation, Inc. is a global organization in the US, UK, and Canada, whose mission is to eradicate white supremacy and build local power to intervene in violence inflicted on Black communities by the state and vigilantes. By combating and countering acts of violence, creating space for Black imagination and innovation, and centering Black joy, we are winning immediate improvements in our lives.
It’s not surprising that SVB would donate to BLM causes, considering that the head of risk management at SVB focused a lot of time and effort on LGBTQ+ programs such as “safe spaces” for coming-out stories. SVB was also heavily invested in promoting the woke environmental, social, and governance (ESG) agenda.
The Daily Signal reported on March 13: “The ‘rich people’ with money in Silicon Valley Bank are the real winners in President Joe Biden’s handling of the California-based bank’s collapse, economist Peter St Onge says.” The criticism is a reaction to the announcement from the Biden administration that the Federal Deposit Insurance Corporation (FDIC) is going to cover all SVB depositors’ money. The FDIC would normally cover deposits up to $250,000 to assist individuals and small businesses; but, with SVB, the FDIC will cover every SVB deposit, even far above $250,000.
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St. Onge insisted, “If the administration gets away with this, then we are going to start moving into a world where bankers, where Wall Street, feels like they can take any risk they like, because this is all going to get bailed out because you’ve got these human shields.”
The bailout debate will continue hot and hard for a while, but one fact about the SVB failure is certain: a focus on wokeness is a sure road to financial failure.
Editor’s note: An earlier version of this article didn’t clearly articulate that the SVB donations tallied went to both the Black Lives Matter Foundation and various groups associated with the group.
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